Active broad-market exchange-traded funds in Tuesday's regular
SPDR S&P 500 ETF Trust (
): +0.35%, near 52-week highs
iShares MSCI Emerging Markets Index (
iShares MSCI Japan Index (
iPath S&P 500 VIX Short Term Futures (
): -1.1%, near 52-week lows
Market Vectors Gold Miners (
Broad Market Indicators
Many broad-market exchange-traded funds, including SPY, IWM, IVV
and others, have turned slightly firmer. Actively traded
PowerShares QQQ (QQQ) is up 0.7% and near 52 week highs.
U.S. stocks are also seeing some renewed gains while the Street
awaits the conclusion Wednesday of the Federal Open Market
Committee two-day meeting which started today. Investors are hoping
that the committee introduces moderate tapering on the Fed's
bond-buying program. The committee's report, as well as updated
economic projections, will be released Wednesday 2 pm ET.
Afterwards, Fed Chair Ben Bernanke will hold a news conference at
2:30 pm ET. Meanwhile, the Congressional Budget Office warned that
the U.S. national debt has reached its highest level since around
World War II, now at 73% of gross domestic product.
Winners and Losers
Select Financial Sector SPDRs (XLF) was up 0.2%, nearer 52-week
highs. Direxion Daily Financial Bull 3X shares (FAS) was up 0.6%.
Its bearish counterpart, FAZ, was down 0.7%.
Among financial stocks, Lloyds Banking Group ADRs (LYG) were
down near 3% from near 52-week highs following multiple reports out
of Europe that the U.K. government sold a 6% stake for 3.2 billion
pounds ($5.1 billion).
Technology Select Sector SPDR ETF (XLK) was up 0.6%, just below
its 52-week high. iShares Dow Jones US Technology ETF (IYW) and
iShares S&P North American Technology-Software Index (IGV) were
both firmer; iShares S&P North American Technology ETF (IGM)
was also up, 0.6% to near 52 week highs.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and
Semiconductor Sector Index Fund (SOXX) were firmer, at the higher
end of their 52-week ranges. SPDR S&P International Technology
Sector ETF (IPK) was flat.
In sector news, EZchip Semiconductor Ltd (EZCH) was up 5% after
it earlier said that to the best of its knowledge Cisco Systems
(CSCO) intends to continue its NP-5 chip in all key platforms that
use the NP-4 chip today. Investors have pummelled EZChip's shares
following Cisco's launch of its new nPower X1 network processor on
Sept. 12, which lead to speculation Cisco would scale back its use
of EZChip products.
Dow Jones U.S. Energy Fund (IYE) was up 0.65%, touching a
52-week high of $47.92. Energy Select Sector SPDR (XLE) was up 0.6%
near its new 52-week high.
In sector news, Triangle Petroleum (TPLM) was up 4.3% and has
posted a fresh 52 week high after the company said it signed
definitive agreements with joint venture partner First Reserve's
Energy Infrastructure Fund (FREIF) to expand the Caliber Midstream
Partners, L.P. midstream and infrastructure system.
Crude was down 1.17%, and United States Oil Fund (USO) was down
1.15%. Natural gas was flat, and United States Natural Gas Fund
(UNG) was up 0.20%.
Gold was down 1.22%, but above session lows, and the SPDR Gold
Trust (GLD) has turned slightly positive. Silver was down 1.35%,
also up from the day's lows; iShares Silver Trust (SLV) was up
Consumer Staples Select Sector SPDR (XLP) was up 0.5%; other
consumer ETFs Vanguard Consumer Staples ETF (VDC) and iShares Dow
Jones US Consumer Goods (IYK) were also firmer.
In sector news, Coty (COTY) has lost early gains and is now down
5.7% and has touched 52 week lows after it earlier reported its
fiscal Q4 results.
Power Play -
Health Care SPDR (XLV) was down 0.15%, but near 52-week highs;
Vanguard Health Care ETF (VHT), iShares Dow Jones US Healthcare
(IYH) and Biotech ETF iShares NASDAQ Biotechnology Index (IBB) were
also all weaker BUT also trading at the higher end of their 52-week
In corporate news, KYTHERA Biopharmaceuticals Inc. (KYTH) was up
near 26%, having earlier hit a new 52-week high of $43.25 after the
company reported that its ATX-101 REFINE-1 and REFINE-2 Phase 3
trials met all primary and secondary endpoints. These two pivotal
Phase 3 trials were conducted to compare the efficacy and safety of
a 2 mg/cm2 dose of ATX-101 versus placebo for the reduction of
submental fat, which commonly presents as a double chin. If
approved, ATX-101 will be a first-in-class submental contouring
injectable drug. Goldman Sachs also initiated coverage of of KYTH
with a Neutral rating, setting a price target of $37.00.
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